The latest new product from OAK Global for you;
OAK Global, a leading risk partner, has launched a new strategic business unit, OAK Horizon – a cross-class strategy focused on underwriting risk solutions across the climate and technology ecosystem. Capacity is provided by OAK Global’s existing Lloyd’s syndicates.
Tom Dickson’s role also evolves to CUO, OAK Horizon alongside his existing role as President, Innovation Strategies.
Cathal Carr, Founder, CEO and Group CUO of OAK Global said: “The intersection between climate and technology will drive significant opportunity across the risk landscape over the coming decades. From a climate resilience perspective, technological and data advancements enable enhanced pricing and structuring of evolving weather risk transfer, supporting (re)insurance penetration to reduce the protection gap through traditional and parametric solutions. Technological innovation can drive increased efficiency in addressing the energy and power needs of an evolving global economy, with the opportunity to enhance energy security and mitigate reliance on higher cost and finite legacy systems.”
“In addition to advancing risk solutions, technological innovation will also introduce challenges as we consider the needs of next generation engineered assets, such as data centres, and the risk uncertainty associated with nascent technologies such as nuclear fusion.”
“OAK Horizon takes a systems-based approach to this ecosystem of growing demand to partner with our clients, create value for our investors and support economic resilience.”
OAK Horizon brings together market leading underwriting expertise and technology to drive innovative portfolio construction:
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OAK Global has created a proprietary framework to assess (re)insurance product alignment with the climate & technology ecosystem to create a bespoke OAK Horizon portfolio, embedded within its existing Lloyd’s syndicates.
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OAK Horizon has dedicated leadership and expertise to deploy this framework, while also leveraging broader capability across the OAK Global group, to underwrite climate & technology-related reinsurance and portfolio insurance risk.
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Risk products will include catastrophe protection for evolving natural perils, parametric solutions, innovative energy and power financing and performance, technology aligned asset protection and public sector partnerships.
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OAK Horizon will seek capital partnerships to enhance its offering to clients, while leading wider collaboration across the risk community.
Tom Dickson, CUO, OAK Horizon and President, Innovation Strategies, said: “OAK Horizon delivers a compelling proposition for our clients and partners, including brokers, insurers and MGAs. It brings together a unique set of specialists with underwriting expertise to structure innovative solutions to support challenging risks in this space, opening up placement opportunities that would not otherwise be possible. OAK Horizon converts the challenges presented by the inter-connected risks of climate & technology into opportunities and embodies the spirit of innovation in underwriting that has always attracted brokers and buyers to the Lloyd’s market.”
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